GENESIS MICROCHIP INC
(GNSS-Nasdaq):
Technical Viewpoint: From a low
of $12.30 on May 1, 2001 prices
rallied, reaching a
high of $28.60
on May 22, 2001. A
decline saw prices pull back, reaching a
low of
$24.05 on May 30, 2001.
Another rally saw prices penetrate
resistance, closing 6/7/01
at $31.23. Technicals: RSI Index (RSI): A Buy Alert!
was given on Jun 7, 2001 when the solid line crossed the dotted line to the upside.
Support: Remains at $27.00. Resistance: Is at None at current levels.
Point & Figure: Reversed to the upside on Jun 7, 2001. A P&F upside
reversal takes place at $28.50. Summary: Technical indicators have turned bullish. BUY! GENESIS MICROCHIP INC
(GNSS-Nasdaq) @ $31.38 Stop: Use a protective stop of $28.63.
GENESIS MICROCHIP INC is currently trading @ $31.23 plus $2.88 on Jun 7, 2001. Price Objective:
$41.00. Risk/Reward: $2.75 VS. $9.62. Today's Risk Reward Ratio: 3:1
|
Click here to view full size chart
|